Singapore legislation
Regulation 2
of Securities and Futures (Clearing Facilities) Regulations 2013
Regulation 2
Definitions
Subregulation 1
In these Regulations, unless the context otherwise requires —[Deleted by S 673/2018 wef 08/10/2018](2) Any word or expression used in these Regulations which is defined in section 48 of the Act shall, unless the context otherwise requires, have the same meaning as in that section.
Definition
“accounting standards” means the accounting standards made or formulated by the Accounting Standards Committee under Part 3 of the Accounting Standards Act 2007;
Definition
“annual report” means the audited profit and loss accounts, audited balance-sheet and auditors’ report, however described;
Definition
“associate”, in relation to an entity (called in this definition the first entity), means —
any entity in which the first entity controls the composition of the board of directors or such corresponding officers as may be prescribed;
any entity in which the first entity controls more than half of the voting power or such measure corresponding to voting power as may be prescribed;
any entity in which the first entity holds more than half of the total number of issued shares or such corresponding interest as may be prescribed;
a subsidiary of any other entity which is an associate by reason of paragraph (a), (b) or (c);
any entity (called in this paragraph the second entity) in which —
the first entity; or
any entity which is an associate by reason of paragraph (a), (b), (c) or (d),has, or the entities in sub-paragraphs (i) and (ii) together have, an interest in shares entitling the beneficial owners of those interests the right to cast (whether by proxy or in person) not less than 20% but not more than 50% of the total votes able to be cast at a general meeting of the second entity, or such corresponding interest as may be prescribed; or
any entity (not being one which is an associate by reason of paragraph (a), (b), (c), (d) or (e)) the policies of which —
the first entity; or
any entity which is an associate by reason of paragraph (a), (b), (c), (d) or (e),is, or the entities in sub-paragraphs (i) and (ii) together are, able to control or influence materially;
Definition
“business day”, except for the purposes of regulations 26 and 47, has the same meaning as in section 4(1) of the Companies Act (Cap. 50);
Definition
“Guidelines on Fit and Proper Criteria” means the document by that title issued by the Authority and published on its website, as revised from time to time;
Definition
“settlement bank” means an entity approved by an approved clearing house or a recognised clearing house to settle payment obligations arising from the transactions of the participants of the approved clearing house or recognised clearing house (as the case may be) that are cleared or settled by the approved clearing house or recognised clearing house (as the case may be);
Definition
“specified transaction” means any derivatives contract.